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Proactive Oil & Gas highlights: DGOC, 88 Energy, Tullow, Mosman, ADM Energy, Canadian Overseas Petroleum, Jersey, United Oil & Gas
It was another active week in the junior oil and gas sector.
Diversified Gas & Oil PLC (LON:DGOC) acquired a package of assets in Louisiana, marking its first deal in a newly identified ‘central’ regional focus area (RFA). The company is paying US$135mln for upstream assets and related facilities from Indigo Minerals LLC. The package, referred to as Cotton Valley, includes some 16,000 barrels oil equivalent per day (boepd) of production across 780 net operated wells.
It is host to around 50mln barrels of proved-developed-producing (PDP) reserves. And the company highlighted that the operations benefit from Gulf Coast pricing, which the company noted means higher realisations.
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Canadian Overseas Petroleum highlights truly outstanding second half
“The acquisition of Atomic Oil and Gas LLC which closed in March of this year was transformative for COPL, chief executive Arthur Millholland said
Canadian Overseas Petroleum Ltd (LON:COPL, TSE:XOP) described a remarkable year as it filed its full-year results.
“The first half of the year was difficult, but was truly outstanding at year-end,” chief executive Arthur Millholland said in a statement.
“The acquisition of Atomic Oil and Gas LLC which closed in March of this year was transformative for COPL.
“In 2020 we managed to recapitalize the company which allowed for the acquisition of Atomic and the associated equity and debt financings.”
Oil, gas capital raises in March: Debt deals boost total collected to $11.59B
U.S. oil and gas companies covered by S&P Global Market Intelligence raised $11.59 billion in March, an increase from the $7.76 billion of capital recorded in February. Debt offerings made up the bulk of the total with $9.94 billion, while common stock deals, preferred stock offerings and private placements contributed a combined amount of $1.65 billion.
Year to date, oil and gas exploration and production companies recorded the highest year-over-year boost after having raised $16.36 billion. Oil and gas refining and marketing companies have pulled in $4.99 billion, up from the $2.00 billion collected in the same year-ago period. As of March, oil and gas storage and transportation companies and integrated oil and gas companies have brought in $10.91 billion and $750 million, respectively, both of which are lower than the capital raised in the same period a year earlier.
TRADING UPDATES: Flooring firm Victoria expects record annual results
Mon, 12th Apr 2021 19:34
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Victoria PLC - Worcestershire-headquartered flooring firm - Achieves record results for the year ended April 3, despite challenges of Covid-19. Expects revenue of GBP640 million, up 3.0% from GBP621.5 million a year prior and underlying earnings before interest, taxes, depreciation and amortisation of GBP120 million, up 1.6% from GBP118.1 million. This was a year in which we completed no major acquisitions and therefore the record trading results were driven by organic performance, say Victoria.
Mon, 12th Apr 2021 19:34
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Victoria PLC - Worcestershire-headquartered flooring firm - Achieves record results for the year ended April 3, despite challenges of Covid-19. Expects revenue of GBP640 million, up 3.0% from GBP621.5 million a year prior and underlying earnings before interest, taxes, depreciation and amortisation of GBP120 million, up 1.6% from GBP118.1 million. This was a year in which we completed no major acquisitions and therefore the record trading results were driven by organic performance, say Victoria.
Elixirr International PLC - London-based consultancy - Posts pretax for 2020 of GBP5.8 million, rising from GBP1.7 million from a year prior. Revenue increases to GBP30.3 million from GBP13.1 million. Says the growth is thanks to the company s relentless focus on continuing to build long-term trusted relationships